Walmart informed Flipkart it plans to sell shares in an initial public offer (IPO) in three years time. The Walmart-Flipkart deal will potentially help both the companies.

Business Standard reported on Thursday that Flipkart's chief rival, Amazon, had put in a bid matching that of Walmart to pick up a controlling stake in the Indian firm. The deal between the two retail giants may value Flipkart at $20 billion, which suggests Sachin Bansal would get around of $1 billion on his exit.

The Indian e-commerce major has paid a set of investors, including T Rowe Price and Valic, about $350 million to purchase 18,95,574 preference shares, in a transaction that closed on 27 April, a Paper.vc report said citing regulatory filings made by Flipkart in Singapore. His co-founder, Binny Bansal (no relation) would stay on-according to this report, Walmart only wants one of the co-founders to hang around.

Guardiola jokes about Man City's '£1billion' transfer plans
Sterling, picked out by Jesus, made a fine run and pin-point pass that allowed the Brazilian to steer home from close-range. And in his first appearance against his former club, the Chilean was heavily involved in the opening goal on 16 minutes.

Emails sent to Flipkart and Walmart did not elicit any response. Interestingly, Amazon has also been in talks to acquire a majority stake in Flipkart, suggesting the U.S. company does not want Walmart to enter the Indian market.

Tiger Global, Accel, Microsoft, Naspers and Ebay continue to remain on the cap table of Flipkart. "It is important for food safety", the source said. Walmart is going big on farm to home. Any Flipkart-Amazon deal would have come under the scanner of the competition watchdog given their dominant market share - around 70 per cent collectively - in the Indian e-commerce market.

Alphabet Inc. may be contributing $3 billion to the investment.

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The newlyweds now reside at Kensington Palace. "The baby will be known as His Royal Highness Prince Louis of Cambridge". The royal daughter had some practice as a bridesmaid for her aunt Pippa Middleton, who Wednesday last May.

While Walmart is understood to be in pole position for acquiring a majority stake, the counter bid could further stall the deal, which was supposed to be decided last month.

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